Bank of America has announced it will donate up to 1,000 foreclosed homes over three years to programs that provide housing to injured veterans and first responders.
The bank has donated about two dozen already, and gave two homes to men injured in the war in Afghanistan last week.
Eric Griego of Tucson, Ariz., his wife and 5-year-old daughter were given the keys to a three-bedroom, two-bath home. The Arizona Star reported that he has wounded in the neck during a firefight in 2010, and still bears wounds.
“This is an important expansion of our property donation and community revitalization initiatives and improves the inventory of homes these organizations focused on assisting our veterans and first responders need,” said D. Steve Boland, the bank's national mortgage outreach executive, in a statement. “We understand our responsibility to help neighborhoods impacted by foreclosure and property abandonment to recover.”
Banks that are a part of the settlement also receive credit toward their penalties by providing relief to service members. Bank of America's total share of the settlement is $11.8 billion. When the settlement was announced, the Charlotte bank said it would enhance programs for military members to help meet the requirements.